Oando PLC, Nigeria’s leading indigenous oil and gas company, held a two-day knowledge transfer session with Master’s of Oil and Gas Law (LL.M) students from the Strathmore University Law School, Nairobi, Kenya at its head office in Victoria Island, Lagos. Today’s reality is that the African oil and gas sector is still playing catch up […]
Read More Shareholders have applauded the management of Oando for restoring market confidence in the company by maintaining a track record of growth over the last 18 months culminating in the achievement of ₦8.5 billion profitability in first half of 2018 (H1’18), the company’s 7th quarter consecutive profit. The shareholders spoke at the 41st Annual General Meeting, […]
Read More Oando Plc has posted profit after tax of ₦8.5 billion in the first half of 2018, H1’18, driven by increase in price of crude oil and gas commodities. An analysis of the company’s financials shows that the company’s turnover grew by 11 per cent to N297.3 billion from ₦267 billion in H1’17; gross profit increased […]
Read More Oando Plc, in conjunction with the Nigerian National Petroleum Corporation and the Nigeria Agip Oil Company, has announced the inauguration of road projects with drainage system in its host communities in Imo, Rivers and Bayelsa states. The company said in a statement that three road projects were completed in Imo, namely Flora Nwakuche Road, Echina […]
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Oando Plc has clarified that it is not affected by the July 6, 2018 verdict of the London Court of International Arbitration awarding $680 million in favour of Ansbury Investments Inc., owned by an Italian-Nigerian businessman, Gabriele Volpi. Oando, in a statement on Monday, explained that the dispute that culminated in the $680 million award […]
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Oando PLC, Nigeria Agip Oil Company, NAOC, Shell Petroleum Development Company, SPDC, other indigenous and international oil companies in partnership with the Nigerian National Petroleum Corporation, NNPC, has signed an agreement to implement Gas Projects worth $3.7 billion. The gas projects tagged: ‘Seven Critical Gas Development Projects (7CGDP)’ is set to bridge the gas supply […]
Read More Shareholders under the aegis of Proactive Shareholders Association of Nigeria have called for the release of the forensic audit report on Oando Plc. The National Coordinator of PROSAN, Mr. Taiwo Oderinde, in a statement on Sunday, accused the Minister of Finance, Kemi Adeosun, and the Acting Director-General, Securities and Exchange Commission, Mary Uduk, of sitting […]
Read More Some shareholders of Oando Plc on Wednesday cautioned its management against moves to reconcile with Ansbury Investments Incorporated, owned by Mr Gabriele Volpi. The shareholders: Pacesetters Shareholders Association, Distinct Shareholders Association and Sage Shareholders, said their objection to the reconciliatory moves was based on an ongoing investigation of Volpi for alleged money laundering by Italian […]
Read More Oando Plc has announced ₦4.2 billion profit-after-tax (PAT) in its first quarter 2018 results.The performance came despite the ongoing Securities and Exchange Commission (SEC) led forensic audit into the affairs of the company. Oando has cashed into the favourable micro and macro business environment characterised by an increase in national oil production, exchange rate stability, […]
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The Group Chief Executive Officer of Oando Plc, Mr. Wale Tinubu, has said that the company was happy with the progress of the forensic audit being carried out by the Securities and Exchange Commission (SEC). Tinubu stated this during an interactive session with the media on the sidelines of the commissioning of the company’s new […]
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More shareholders in the Nigerian capital market have advised the Emir of Kano, Muhammadu Sanusi, to desist from interfering in the planned forensic audit of Oando Plc, saying the move was capable of eroding investors’ confidence in the sector. They argued that such interferences would not allow regulators get to the bottom of the company’s […]
Read More The Oando Shareholders Solidarity Group (OSSG) has said that the intervention of the Emir of Kano, Muhammadu Sanusi, in the face-off between the company and one of its aggrieved shareholders, cannot stop a forensic audit planned by the Securities and Exchange Commission (SEC). The Co-ordinator of OSSG, Clement Ebitimi, said that while his group is […]
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